Aldira Sunrise 6 Agustus 2024

Economy: GDP growth slows to 5.05% in 2Q24
The Central Statistics Agency (BPS) reported economic growth of 5.05% yoy in 2Q24. This growth slowed compared to the previous quarter which reached 5.11% yoy. Overall, Indonesia’s economic growth grew 5.08% yoy in 1H24. (Kontan)
BNGA explained growth drivers in 1H24
Bank CIMB Niaga (BNGA) explained the factors driving net profit growth which rose 5.38% yoy to IDR 3.41T in 1H24. One driving factor is credit growth of 5.9% yoy to IDR 217.08T, driven by credit growth in various segments. In detail, SME credit grew the highest compared to other credit segments, reaching 10% yoy with a disbursed credit value of IDR 25.44T. This was followed by consumer credit of IDR 73.38T (+5.8% yoy). On the other hand, corporate credit grew 5.4% yoy to IDR 85.06T. The biggest growth in corporate credit is in the agri, manufacturing, and services sectors. The other factor is growth in deposits of 6% yoy to IDR 249.84T, with CASA growing 7.4% yoy. (Kontan)
SSIA recorded IDR IDR 1.55T marketing sales in 1H24
Surya Semesta Internusa (SSIA) recorded marketing sales of IDR 1.55T in 1H24 (+12.93% yoy) or the equivalent of 132.4 ha. The majority of marketing sales came from land sales to BYD with a total of 108 ha. Previously, SSIA also increased the 2024 marketing sales target for Suryabuat City of Industry Karawang and Subang Smartpolitan from 65 ha to 184 ha. The new target is equivalent to IDR 2.2T in sales value. Assuming these marketing sales are achieved and recorded this year, SSIA’s 2024 consolidated revenue is estimated to increase by around 23% yoy to IDR 5.6T, with net profit increasing by around 182% yoy to IDR 500B. (Kontan)